Christmas credit card spending may hit €3.5bn

IRISH consumers in denial about their debt-fuelled credit card lifestyles are on course to rack up over €3 billion in debt this Christmas.

Research specialists Mintel Ireland published a report yesterday that lays bare the nation’s dependence on credit cards.

The ‘Credit Cards: A Nation in Debt’ report shows that 39% of Irish consumers aged 15 and over now own a credit card and are using their cards to tap into a lifestyle they otherwise couldn’t afford.